PayPal-backed German fintech startup Raisin gets €25M from Goldman Sachs, US launch in plans

PayPal-backed German fintech startup Raisin gets €25M from Goldman Sachs, US launch in plans

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Investing online can be one of the best things to do with your money instead of spending it. A couple of years back, huge fees were extorted by brokers and wealth managers to proceed with investing.

Post the digitalisation and tech revolution, numerous fintech startups have launched investment platforms aimed at the average earner looking to passionately invest those spare pennies. At present, there are plenty of financial tools available and one such platform is Raisin. Based out of Berlin, Raisin‘s goal is to provide savers with the best interest rates.

Secured €25 million

Based out of Berlin, the pan-European savings marketplace Raisin, today announced a new investment of €25 million led by Goldman Sachs. This brings the total volume of primary investment to €195 million.

Rana Yared, Managing Director, Goldman Sachs Principal Strategic Investments, said:

Raisin has developed a unique savings marketplace with a solid business model, impressive growth and a loyal customer base. We are excited to support the company’s outstanding management team in executing their vision.

Having said that, Raisin retains its leading position as the best-funded tech startup in the savings and investment area in Europe. With the new funding, Raisin will build its stateside presence to prepare a 2020 launch in the $12.7 trillion U.S. savings market, as well as enter two new European markets within 2019. Now the company aims to further advance its technology, acquire top-notch talent, and broaden its product portfolio.

Brokered €14 billion!

The Berlin-based fintech company was founded in 2012 by Dr Tamaz Georgadze (CEO), Dr Frank Freund (CFO) and Michael Stephan (COO). Since launch in 2013, Raisin has brokered €14 billion for more than 185,000 customers across the European continent.

deposits-as-a-service

Offering consumers more than 480 savings products from 80 European partner banks, the fintech provides ‘deposits-as-a-service’ to banks all over the European Economic Area. Furthermore, it has also built distribution partnerships with N26, Commerzbank, o2 Banking of Telefónica Germany and Yolt among others.

Dr Tamaz Georgadze, Raisin CEO and co-founder:

This investment from such a renowned brand is a very encouraging confirmation for us that our core business, as well as a growth strategy, are on the right track. We’re really proud to have Goldman’s backing, especially given the expertise in investment products, along with an extraordinary 150-year history and record of success.

Raisin has six country-specific savings platforms in Germany, the United Kingdom, France, The Netherlands, Spain, Austria and a dedicated com-platform for 28 European countries.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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